Social media is quickly becoming one of the most important aspects of digital marketing, where businesses can collect consumer sentiment and find new ways of meeting consumer needs and improving their businesses. In financial analysis, consumer sentiment has become one of the three pillars of data analysis in predicting stock price changes.
Sentiment was collected from two of the largest social media platforms, Twitter and Reddit, using Vader Sentiment Analysis. Through this tool, we are able to score individual comments between -1 and 1, and chart this on a time-series graph.
For this project, we chose to compare consumer sentiment to BitCoin (BTC) stock price changes. BitCoin was chosen because it is a new currency that has a lot of hobbyist interest and gained a lot of popularity in and out of the financial industry.